DATA ANALYTICS KEYNOTE LIVE FEED
Fresh approach to data privacy and the governance of organizations storing and processing personal data
Welcome to Copperberg’s live coverage of the “Data Analytics Keynote: Fresh approach to data privacy and the governance of organizations storing and processing personal data,” as part of the Aftermarket Virtual Summit.
This keynote session is being hosted by Julian Wheatland, the former COO/CFO and CEO at Cambridge Analytica, and current Chief Executive at Cornerstone.
In 2018, following the controversy surrounding Cambridge Analytica’s access to Facebook data, Julian stepped into the role of Group CEO in order to deal with the numerous legal, media, staff, and shareholder issues that ensued, ultimately closing the company down.
➤ Julian Wheatland: “This story is a case study. And it’s a case study of how not to do PR.”
➤ According to the keynote speaker, Julian Wheatland, the overall objective of Cambridge Analytica was to be able to tailor marketing communications to distinct individuals in a way that targets them most effectively by using the particular words and images that appeal to their personality types.
➤ Julian Wheatland reveals that the day after the Trump election, all the media turned around with surprise and said that Cambridge Analytica must be responsible for the outcome.
➤ Julian Wheatland: “We conducted surveys of people to determine their personality types on the OCEAN scale rather than use Facebook data.”
➤ Julian Wheatland: “We never worked on the Brexit campaign, but we said we did.”
➤ Although the media claimed that the Trump and Brexit campaigns were election robberies conducted by Cambridge Analytica, the truth is that the company only worked on one of them.
➤ Julian Wheatland: “They accused us of hacking into people’s minds to manipulate them to do what we wanted them to do.”
➤ Julian Wheatland: “People say that all publicity is good publicity. That’s not necessarily true.”
➤ There were 35,000 news articles per day about Cambridge Analytica. It was impossible for the company to respond to all allegations, most of which were fabricated.
➤ No customers, no suppliers, and a lot of debt forced the company to go into bankruptcy.
➤ Julian Wheatland identifies the root of the problem as being the “wrong place, wrong time” conundrum. Cambridge Analytica was at the nexus of the concerns about Trump, Brexit, Facebook, and data analytics.
➤ Julian Wheatland: “Cambridge Analytica did make mistakes, just not the mistakes that people believe. We made PR and ethical mistakes.”
➤ Julian Wheatland: “It remains unproven whether the Facebook regulations at the time were breached.”
➤ Julian Wheatland wisely states that ethical management is an important area that companies need to think about.
➤ Julian Wheatland: “You can’t rely on individual employees to spot dubious issues without the necessary tools.”
➤ “We can’t rely on regulators to be the safety net. Acceptable behavior is subjective. A regulator would have to set the hardest line in order to satisfy the strongest objectors. And if we do that, regulators would stifle innovation,” says Julian Wheatland.
➤ Julian Wheatland on Facebook: “They do the maximum amount of noise and the minimum amount of change. These businesses are about attracting eyeballs.”
➤ Julian Wheatland on governments not purchasing 5G technologies from China: “China is very strong and has huge local markets. I don’t think it’s going to change its approach to data in general. And there’s no evidence that it’s going to change its approach to reaching the West either.”
➤ Julian Wheatland: “Cambridge Analytica didn’t leave a void. People from the company who’ve worked on the campaign in 2016 are working on the election campaign today.”
Up next: Stay tuned for the upcoming “Remote Monitoring Keynote: How Covid-19 sparked an important step forward in on-site service with the introduction of augmented reality.” The live session starts at 1 PM CET / 2 PM EEST and it will be hosted by Massimo Rigamonti—the Service Business Development Manager at Trillium Flow Technologies.